PulteGroup and NVR boosted mortgage originations on an annual basis in the first quarter of 2025.

As the Trump-induced turmoil spread, Treasury yields — defying historic norms — headed north.

“The level of the tariff increases announced so far is significantly larger than anticipated,” said Fed Chair Jerome Powell.

The uptick in planned issuance follows a period of weak demand from investors due to uncertainty on the economic outlook as tariff policies fluctuate.

The spread on an expanded-credit MBS Annaly Capital Management priced this week was the widest pricing for the senior tranche of an expanded-credit MBS in more than a year.

HomeXpress is owned by Seer Capital Management, an investment fund.

Bulletins from the GSEs detailed updates to servicing guidelines.

“We’re consolidating divisions to focus on building more homes and strengthening safety and soundness,” said FHFA Director Bill Pulte.

Expanded-credit mortgages accounted for 58.2% of collateral in non-agency MBS issued during the first quarter.

ARDRI is the brainchild of Brian O’Shaughnessy, the former co-CEO of Rama Capital.